Not all deficits are created equal. In designing policy responses, it is important to distinguish between “cyclical” and “structural” deficits. Cyclical deficits are caused by a weak economy. Recessions drive down government revenue because many workers and businesses are no…
WASHINGTON -- The Concord Coalition is pleased that the House Budget Committee has voted to advance a budget resolution that aims to balance over 10 years, but is skeptical about the assumptions the committee makes to get there. However, establishing…
WASHINGTON -- This year’s reports from the trustees of Social Security and Medicare highlight the need for substantial reforms to both programs that can put them on sustainable paths while protecting other government priorities in the coming years, according to…
The Congressional Budget Office (CBO) provides a critical service for policymakers and the public: projecting the budgetary and economic impacts of proposed legislation. Since its inception in 1974, CBO has established an unparalleled track record for objectivity and analytical rigor.…